Angel Oak: Q3 Earnings Snapshot
ATLANTA (AP) — ATLANTA (AP) — Angel Oak Mortgage Inc. (AOMR) on Tuesday reported third-quarter net income of $8.3 million, after reporting a loss in the same period a year earlier.
ATLANTA (AP) — ATLANTA (AP) — Angel Oak Mortgage Inc. (AOMR) on Tuesday reported third-quarter net income of $8.3 million, after reporting a loss in the same period a year earlier.
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The Atlanta-based company said it had net income of 33 cents per share. Losses, adjusted for non-recurring gains, came to 35 cents per share.
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The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The real estate finance company posted revenue of $23.9 million in the period.
Angel Oak shares have increased 80% since the beginning of the year. The stock has fallen almost 7% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AOMR at https://www.zacks.com/ap/AOMR